Changes to US Federal Tax Credit Impact EV Automakers.
TL;DR Summary
Beginning April 18, EVs from major automakers like Volkswagen, Rivian, BMW, and more will no longer qualify for any tax credits at the federal level, while Tesla’s base Model 3 is cut in half. The US Treasury Department has outlined what parameters automakers must comply with in terms of battery component assembly and respective materials in order for their EVs to qualify for federal tax credits. Each of the two newly enforced qualifying factors account for $3,750 in EV tax credits, combining for the total $7,500.
- US Treasury: Rivian, Nissan LEAF, others lose full $7500 EV tax credit, Tesla base Model 3 cut in half [Update] Electrek.co
- VW Confirms US-Built ID.4 Will Be Eligible for the $7,500 Federal Tax Credit Jalopnik
- Rivian gets back partial eligibility for EV tax credit WGLT
- Tax Strategy: Proposed regs for the Clean Vehicle Credit Accounting Today
- BMW Among Automakers to Lose Federal Tax Credit in the U.S. Market BMWBLOG
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